The national average price of gasoline passed $3 per gallon Wednesday, as people on the East Coast continued to line up at pumps to fill up over fears of a shortage.
But travel app GasBuddy said the increase is not due to the Colonial Pipeline shutdown that has sparked fears of a gas shortage. Instead, the price increase was expected as COVID-19 recovery continues and the demand for gas rises.
“In this case, rising gas prices are a sign Americans are getting back out into the world — attending baseball games, going to concerts, taking a road trip — basically staying anywhere but at home,” Patrick De Haan, head of Gasbuddy’s petroleum analysis, said in a news release.
GasBuddy’s projections for the summer have gas prices briefly rising above $3 on average and then settling down into the upper $2 to low $3 per gallon range.
The company warns that prices could also be impacted by any major refinery issues, especially if the economy continues to recover and fuel demand increases.